A looming new arms race between Apple, Google and Samsung over the so-called “connected home” saw microchip designer ARM Holdings jump today, on the hopes its products will soon find their way into everything from washing machines to fridges.

ARM soared 30p to 911.75p after reports that Apple is planning new software to make its iPhone, which uses ARM chips, a remote control for the home, letting people remotely control appliances and monitor things such as energy use.

Cambridge-based ARM was also helped by speculation that it could be a target for one of the US majors. Mike van Dulken, head of research at Accendo Markets, said: “The recent increase in M&A activity keeps the tech story an attractive one for investors looking for upside.”

UK traders were catching up with Europe today after the long weekend. Markets on the Continent were buoyed by successful elections in Ukraine and the Footsie followed suit, rising 37.05 points to 6852.8.

The chairman of Rightmove cashed in on the booming housing market today, selling a £7 million stake in the online property goliath. Scott Forbes offloaded 300,000 shares, roughly half his stake. The sale comes less than a week after Rightmove’s biggest rival, Zoopla, confirmed plans for a £1 billion float next month. Rightmove climbed 15p to 2345.5p.

No sooner has one deal died, than another arrives to excite the City. AstraZeneca tumbled 2% to 4246p as takeover talks with Pfizer officially ended.

But InterContinental Hotels leapt 127p to 2353p after reports over the weekend that it was courted by a mystery US suitor earlier in the year.

The FTSE 250 was bookended by Aveva and Ophir Energy, showing it is possibly safer to plan drilling rigs than operate them.

At the top was Aveva, up 269p at 2433p, which designs oil rigs and power plants. The company revealed an 11% jump in pre-tax profit and a 6% rise in revenue, prompting an upgrade to Buy from Panmure Gordon’s technology stock-picker George O’Connor.

African-focused explorer Ophir Energy ebbed down 16.1p to 244.15p, after revealing disappointing results from its Affanga Deep-1 well offshore in Gabon. The well found only poor quality reserves.

Bovine genetics firm Genus lost 5p to 1057.5p after calling off a joint venture deal in China because of struggling market conditions there.

Rare Earth Minerals, one of serial AIM entrepreneur David Lenigas’s many operations, rallied 0.04p to 0.62p after upping its stake in a lithium mining joint venture in Mexico from 10% to 30%. It follows the announcement earlier this month that another Rare Earth joint venture mine nearby has uncovered battery grade lithium — a boon for the company.

BUY

Bank of Georgia

Cantor Fitzgerald recommends Bank of Georgia, first brought to our attention by the much-missed Bruce Packard. Cantor is optimistic about expansion at the bank’s healthcare subsidiary Aldagi. Shares are 2530p; target is 3000p.

SELL

Antofagasta

Dump shares in Chile-based copper miner Antofagasta, Investec warns. The broker is turned off by the mix of imminent local tax rises and uncertain copper prices. Shares are 771p; target is 690p.

HOLD

AG Barr

hang onto shares in AG Barr, Panmure Gordon advises. The broker fells the maker of Irn-Bru “has made a solid start to year” and performance “was substantially ahead of [peers]”. Shares are 629p; target is 615p.